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Risk management in Korean financial institutions : Ten years after the financial crisis

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Frame of Image ears after the Financial Crisis
Abstract
Risk characteristics of the Korean financial market have changed dramatically during the decade following the financial crisis in 1997. First of all, credit risk in the large corporate sector has decreased significantly after turmoil in the corporate bond market in 1999 and 2000. Second, credit risk in the small and medium sized enterprises (SMEs) sector has been continuously deteriorating. Third, credit risk in the household sector has increased. Over-supply of credit by large financial institutions in early 2000s had created near crisis in this sector in 2003. The market stabilized rather quickly, but fast increase of residential mortgage loans by commercial banks had triggered new concerns in recent years. Korean financial institutions have in general made remarkable progresses in improving risk management practices. The supervisory authorities (FSC/FSS) had exerted very strong influences on financial institutions to prompt improvements in their risk management functions. As a result, many of the large financial institutions have made noticeable progresses in adopting advanced risk management technologies and risk-based decision making procedures, even medium- and small-sized financial institutions have been rather slow in progress. Due to lack of experience and insufficient dada, however, many financial institutions are still struggling to fully utilize new risk management technologies. Proactive supervisory measures have become ev


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Title Risk management in Korean financial institutions
Similar Titles
Sub Title

Ten years after the financial crisis

Material Type Reports
Author(English)

Lee, Kun Ho

Publisher

Seoul:KDI School of Public Policy and Management

Date 2008
Series Title; No KDI School Working Paper Series / 08-10
Pages 53
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding KDI School of Public Policy and Management